Cathie Wood's Ark Offloads Tesla Shares Worth $8.4M While Staying Bullish On Elon Musk's EV Company
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, has continued to sell Tesla shares, with the latest sale amounting to $8.42 million. This is the second consecutive day of significant sales, following Tesla's recent rally and discussions about its potential in autonomous driving technology. Despite these sales, Ark remains optimistic about Tesla's future, projecting a stock price surge to $2,000 by 2027. Ark Invest also made key trades in Roblox Corp, Teladoc Inc, DraftKings Inc, and Ginkgo Bioworks Holdings Inc.
September 21, 2023 | 2:24 am
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NEGATIVE IMPACT
Ark Invest has been selling Tesla shares through its flagship Ark Innovation ETF.
The sale of Tesla shares through the Ark Innovation ETF could potentially impact the ETF's performance in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest sold a total of 393,226 shares of DraftKings Inc across multiple ETFs.
The sale of DraftKings shares by Ark Invest could potentially lead to a short-term decrease in DraftKings' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest has sold a significant amount of Tesla shares for the second consecutive day. Despite this, they remain optimistic about Tesla's future.
The sale of Tesla shares by Ark Invest could potentially lead to a short-term decrease in Tesla's stock price. However, Ark's continued optimism about Tesla's future suggests they believe in the company's long-term potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark Invest acquired a massive 2,170,433 shares of Ginkgo Bioworks Holdings Inc through multiple ETFs.
The purchase of Ginkgo Bioworks shares by Ark Invest could potentially lead to a short-term increase in Ginkgo Bioworks' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark Invest purchased 526,046 shares of Roblox Corp through multiple ETFs.
The purchase of Roblox shares by Ark Invest could potentially lead to a short-term increase in Roblox's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark Invest bought a total of 351,042 shares of Teladoc Inc across multiple ETFs.
The purchase of Teladoc shares by Ark Invest could potentially lead to a short-term increase in Teladoc's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100